Last Refreshed: 5/8/2021 4:58:45 AM
Press release

ICA AB Year-end report 2012

A successful year for the ICA Group.

Ownership changes in ICA

Hakon Invest and Ahold have today announced that Hakon Invest is acquiring Ahold’s shares in ICA. Following completion of the acquisition, ICA and Hakon Invest will become one group – ICA Gruppen. ICA’s CEO Per Strömberg is envisioned as CEO of ICA Gruppen. Due to this announcement, ICA has moved forward the publication of the year-end report to today.

Fourth quarter

  • Net sales for the fourth quarter amounted to SEK 24,990 million (24,921), up 0.3 percent. Adjusted for the divested ICA Maxi stores in Norway, net sales increased by 3.6 percent, or 4.2 percent at constant exchange rates.
  • Operating income amounted to SEK 928 million (947), a decrease of 2.0 percent.
  • Income after net financial items amounted to SEK 812 million (853).
  • Net income for the fourth quarter amounted to SEK 733 million (711). The quarter contains a one-time tax reduction of SEK139 million after the Swedish corporate tax rate was cut to 22 percent as of 2013.

Full-year

  • Net sales for the year amounted to SEK 96,863 million (95,179), up 1.8 percent. Adjusted for the divested ICA Maxi stores in Norway, net sales increased by 4.0 percent, or 4.2 percent at constant exchange rate.
  • Operating income amounted to SEK 3,466 million (3,097) excluding non-recurring items of SEK 192 million (592), up 11.9 percent.
  • Income after net financial items amounted to SEK 2,937 million (2,156).
  • Net income for the year amounted to SEK 919 million (1,395). Net income for the year includes a tax expense of SEK 1,274 million related to a tax dispute for the years 2004–2008 as well as a one-time tax reduction of SEK 139 million after the Swedish corporate tax rate was cut to 22 percent as of 2013.

Extract from CEO comment

"2012 was a successful year for the ICA Group. The grocery market in all the countries where ICA operates performed fairly strongly despite the turbulent economic situation in Europe. Operating income excluding non-recurring items amounted to SEK 3,466 million, up 12 percent, mainly driven by a continued strong sales trend in ICA Sweden. Rimi Baltic, ICA Bank and ICA Real Estate also posted better results during the year. However, net income was affected by a tax expense of about SEK 1.3 billion due to a ruling by the County Administrative Court on October 4."

For the entire report, with a complete comment by the CEO and description of the financial results, please see the attached download file (pdf).